Business and Technical Overview. ASX Derivatives Clearing System Service Release 1

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1 Business and Technical Overview ASX Derivatives Clearing System Service Release 1 VERSION 1.0 OCTOBER 2017

2 Table of Contents 1. ACRONYM GLOSSARY INTRODUCTION MCM ENHANCEMENTS CHANGES TO TRADED ENTITIES VIEW UNDER CLEARING HOUSE PARAMETERS MCM SECURITY CHANGES Windows Authentication CONTRACT POSTINGS Database table changes ACCEPTABLE COLLATERAL REGISTERED HOLDING AUTHORISATION DIVIDENDS PAYABLE ASX REFERENCEPOINT FILES APPENDICES DATABASE CHANGES - ACCEPTABLECOLLATERAL DATABASE CHANGES - REGISTEREDHOLDERAUTHORISATIONS REFERENCE POINT FILE SAMPLES VMDERIVPRODACC DIVIDENDPAYABLE Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 2 of 15

3 1. Acronym Glossary Acronym CHESS DCS ETO MCM OTC Definition Clearing House Electronic Sub-System Derivatives Clearing System Exchange Traded Option Members Clearing Module Over the Counter Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 3 of 15

4 2. Introduction This document describes the changes to the Member Clearing Module (MCM)/Derivatives Clearing System (DCS) Open Interface (OI) and database schema required to support MCM/DCS v MCM/DCS is an optional release. The precise implementation and test availability dates will be published in future ASX market notices. The document also covers the changes related to ASX ReferencePoint Files. The changes can be categorized and summarized as follows: Component Category Changes Impacted Audience Due Date Member Clearing Module Clearing House Parameters Selection parameters on Traded entities screen - view details of all the products available without restrictions on selection criteria Participants that utilise view traded entities option on MCM. 10November 2017 Member Clearing Module MCM Security MCM Security structure based on windows authentication Existing MCM users across all participants. 10 November 2017 Member Clearing Module Variation Margin postings Variation Margin Postings screen to include other postings such as premium and cash adjustments. Participants that utilise Variation margin posting view. 10November 2017 Member Clearing Module Acceptable Collateral New screen developed to show currently accepted stock collateral. All the MCM users 10 November 2017 Member Clearing Module Registered Holding Authorisation Registered Holdings view Participants can access the registered holding details via MCM 10 November 2017 Member Clearing Module Dividends Payable Introduction of a new view to provide dividend details with regards to TORESS options Participants with TORESS positions 10 November 2017 ASX Online Reference point Introduction of Listing Frequency column on 3 existing ASX Online Reference Point files Existing subscribers of reference point files: Deletion, Master and Addition 10November 2017 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 4 of 15

Optional Selection 3.2. MCM Security Changes 3.2.2. Windows Authentication MCM user access via SQL Authentication has been changed to Windows Authentication.

5 3. MCM Enhancements 3.1. Changes to Traded Entities view under Clearing House Parameters The selection criteria on Traded Entities screen has been changed where all filter fields are now optional. I.e. a user can view all active traded entities without restriction on a specific product or contract month. Optional Selection 3.2. MCM Security Changes Windows Authentication MCM user access via SQL Authentication has been changed to Windows Authentication. All the existing users will be retained. However if existing user name is different to windows authenticated user details, those users should be created via MCM Security Administration tool. Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 5 of 15

Note: MCM Password authentication feature is removed as no additional verification is

6 New user account properties: User ID User Name Windows user ID Applicable user name Access is restricted if valid windows user accounts are not created in MCM. Note: MCM Password authentication feature is removed as no additional verification is required for a valid windows user. Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 6 of 15

7 3.3. Contract Postings The Variation Margin posting view has been extended to include other postings such as premium and cash adjustments. The screen name (Contract Postings) has also been modified to reflect this change in content. The following list of contract postings are visible via this screen. Cash Adjustment - Capital Adjustment Cash Settlement Price Average Adjustment Premiums - Buy Premiums - Sell Trade Activity Transfer - MTM Trade Activity Transfer - Premium Buy Trade Activity Transfer - Premium Sell Settlement to Market Database table changes Posting Code is added to the VMDerivProdAcc table and included as part of the primary key. Refer to Appendix 5.4 for more details. Column Name Description Type Size PostingCode Posting code used to identify the particular type of posting. Text Acceptable Collateral New screen Acceptable Collateral view under Clearing House Parameters is introduced to provide details on all currently accepted stock collateral with ASX Clear. Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 7 of 15

Screen Details: Collateral Code Type Description Haircut% SpecificCoverOnly Code identifying the collateral. (ASX Code for Equities) e.g. NCM. The type of collateral e.g. Shares Description of the collateral e.

8 Screen Details: Collateral Code Type Description Haircut% SpecificCoverOnly Code identifying the collateral. (ASX Code for Equities) e.g. NCM. The type of collateral e.g. Shares Description of the collateral e.g. Newcrest Mining Ltd. The percentage haircut that is applied to the price of the collateral when calculating the collateral value e.g Is the stock acceptable for specific cover only (not general cover)? Y/N For database table changes please refer to Appendix Registered Holding Authorisation A new screen is developed to shows details of registered holding authorisations with optional selection by HIN and/or Account. This is updated on an end of day basis. To facilitate this, a new file/table has been created called RegHoldingAuth. For a full reference of impacted files/tables, refer to Appendix 5.2 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 8 of 15

the authorisation is for collateral to be lodged without other paperwork being required;

9 Registered Holding screen provides below details: Account HIN Paperless Uniquely identifier of an account The holder identification number of the registered holder Y indicates that the authorisation is for collateral to be lodged without other paperwork being required; otherwise N. Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 9 of 15

3.6. Dividends Payable New screen Dividends Payable View is introduced to provide details of dividends payable as a result of any TORESS positions held by the participant.

10 3.6. Dividends Payable New screen Dividends Payable View is introduced to provide details of dividends payable as a result of any TORESS positions held by the participant. This table is generated during the period of Ex-date and day after Payable date. Dividend Payable view properties: Payable Date Account Product Multiplier Dividend Product Quantity Dividend Value Value The date TORESS dividend amount is payable Unique identifier of an account Code used to uniquely identify the TORESS product The multiplier used to calculate the dividend amount (i.e. TORESS Payment) Code used to uniquely identify the dividend (underlying) product The net TORESS open position used to calculate the TORESS payment The dividend value The amount payable Related database changes are available in Appendix 5.5. Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 10 of 15

11 4. ASX ReferencePoint Files The three ASX ReferencePoint files listed below, are available on ASX Online. The files have been modified to allow customers to accurately identify each ETO contract as either monthly or weekly contracts. Master.csv Addition.csv Deletion.csv A new column Listing Frequency has been introduced to above files to denote if an option contract is a standard monthly contract or weekly ETO. Please refer to Appendix 5.3 for Sample file formats. Column Name Description Example Listing Frequency Denotes if an option is a monthly or weekly contract. Possible Values M = Monthly Contract W1 = Weekly contract with next 1 week expiry W2 = Weekly contract with next 2 week expiry W3 = Weekly contract with next 3 week expiry W4 = Weekly contract with next 4 week expiry W5 = Weekly contract with next 5 week expiry W1 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 11 of 15

12 5. Appendices 5.1. Database changes - AcceptableCollateral The AcceptableCollateral table contains the details of all non-cash collateral accepted by ASXCL to cover margins. Initially this table will only contain equities Index Name Property Number of Fields PrimaryKey Unique: True 2 Fields: CollCode, CollType, Column Name Description Type Size CollCode Code identifying the collateral. (ASX Code for Equities) e.g. NCM. Text 10 CollType The type of collateral e.g. Shares Text 20 CollDesc Haircut SpecificCoverOnly Description of the collateral e.g. Newcrest Mining Ltd. The percentage haircut that is applied to the price of the collateral when calculating the collateral value e.g Is the stock acceptable for specific cover only (not general cover)? Y/N Text 100 Currency 8 String Database changes - RegisteredHolderAuthorisations The RegisteredHolderAuthorisations table contains the details of the Registered Holder Authorisations (RHCCA) processed by the clearing house. Index Name Property Number of Fields PrimaryKey Unique: True 2 Fields: HIN, AccId, Column Name Description Type Size HIN The holder identification number of the registered holder. Text 10 AccId Uniquely identifies an account. Number (Long) 4 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 12 of 15

13 Column Name Description Type Size Paperless Y indicates that the authorisation is for collateral to be lodged without other paperwork being required; otherwise N. Text Reference Point File Samples addition.csv master.csv deletion.csv 5.4. VMDerivProdAcc The VMDerivProdAcc table contains variation margin and other contract-related posting details by account and derivative product for the previous business day. Index Name Properties Number of Fields PrimaryKey Unique: True 4 Fields: Ledger, AccId, DerivProd, Cur, PostingCode, Column Name Description Type Size Ledger Code used to identify a ledger. Text 12 AccId Uniquely identifies each account. Number (Long) 4 DerivProd Cur SegType Unique code that identifies the derivative product. The currency of the variation margin amount. Code that identifies the segregation type of the account. Text 6 Text 3 Text 1 Amt The variation margin amount. Currency 8 PostingCode Posting code used to identify the particular type of posting. Text 6 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 13 of 15

14 5.5. DividendPayable The DividendPayable table contains details of dividend payments relating to TORESS product open positions. The data is available from the ex-date until the day after payable date. Index Name Property Number of Fields PrimaryKey Unique: True 2 Fields: PayableDate, AccId, Cur, DerivProd, Multiplier, Column Name Description Type Size PayableDate Dividend payable Date. The date TORESS dividend amount is payable. Date/Time 8 Accid Uniquely identifies an account. Number (Long) 4 Cur DerivProd Multiplier The currency in which contract prices are quoted. Code used to uniquely identify the TORESS product. The multiplier used to calculate the dividend amount (i.e. TORESS Payment). Text 3 Text 6 Currency 8 Ledger Code used to identify a ledger. Text 12 Prod Qty Code used to uniquely identify the dividend (underlying) product. The net TORESS open position used to calculate the TORESS payment. Net short position is a negative value Text 6 Number (Long) 4 DivVal The dividend value. Currency 8 Amt The amount payable. Currency 8 Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 14 of 15

15 Disclaimer This document provides general information only and may be subject to change at any time without notice. ASX Limited (ABN ) and its related bodies corporate ( ASX ) makes no representation or warranty with respect to the accuracy, reliability or completeness of this information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way, including by way of negligence, from or in connection with any information provided or omitted, or from anyone acting or refraining to act in reliance on this information. The information in this document is not a substitute for any relevant operating rules, and in the event of any inconsistency between this document and the operating rules, the operating rules prevail to the extent of the inconsistency. ASX Trademarks The trademarks listed below are trademarks of ASX. Where a mark is indicated as registered it is registered in Australia and may also be registered in other countries. Nothing contained in this document should be construed as being any licence or right to use of any trademark contained within the document. ASX, LEPO, ReferencePoint Copyright 2017 ASX Limited ABN All rights reserved 2017 Page 15 of 15

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